Roy Cooke article in Card Player is wrong.

[Posty123]

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Tipping and varience have nothing to do with each other. All tipping does is increase overhead, so tips might turn a 2 bb/100 winner with an SD of 16 into a 1.5 bb/100 winner with an SD of........sixteen.

Think about it this way...if you decided to tip $100 for every pot you won in a $1/$2 game, you would not have very large swings (it will not all the suddon become possible to win two grand in a night). You would just go broke very quickly as your winrate (after tips) would predict.

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If you were a .001 bb/100 winner would that increase your variance? Does taking it to the extreme in this way illustrate how your example shows how you are incorrect in your analysis.